Binance Settles for $4.3 Billion in Landmark Legal Penalty

Binance Settles for $4.3 Billion in Landmark Legal Penalty



Binance Holdings Ltd. has been mandated to remit $4.3 billion as part of a plea agreement sanctioned by District Judge Richard Jones, representing one of the most significant criminal fines in the annals of U.S. legal history.



This resolution stems from Binance, the globe's premier cryptocurrency exchange, and its creator, Changpeng Zhao, admitting culpability to allegations of breaching anti-money laundering statutes and sanctions, including dealings with Hamas and other designated terrorist organizations.



Declared in Seattle, the settlement additionally requires a period of up to five years of oversight on compliance, to be conducted by an external agency, which might be selected from the reputable New York-based Sullivan & Cromwell law firm.



Judge Jones remarked on the occasion, highlighting that the firm's ethical


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#Binance, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #CZ, #HangpengZhao, #News, #Regulations

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